Brazil Industrial production May 2021

Brazil

Brazil: Industrial output grows for first time in four months

July 2, 2021

Industrial output grew 1.4% in month-on-month seasonally-adjusted terms in May, which contrasted April's 1.5% decrease and marked the first expansion in four months. May's notable turnaround largely came on the back of a rebound in consumer goods output. Moreover, intermediate goods production declined at a softer pace compared to the previous month. Lastly, while durable consumer goods output fell at a sharper rate, non-durable consumer goods production bounced back in May.

On an annual basis, industrial production rose 24.0% in May, which was significantly below April’s 34.7% expansion. Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 6.1% in May, up from April's 2.3%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 5.9% in 2021, which is up 1.0 percentage point from last month's estimate. In 2022, industrial output is projected to grow 2.8%.


Author:, Economist

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Brazil Industry May 2021

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: Brazil Institute of Geography and Statistics (IBGE) and FocusEconomics calculations


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